Melania Memecoin Outshines Bitcoin, Dogecoin As Trump Promotes Documentary On First Lady, Calls It A ‘Must Watch’

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The Official Melania (CRYPTO: MELANIA) coin overshadowed higher-value assets in the cryptocurrency universe Monday, fueled by hype around an upcoming documentary on First Lady Melania Trump.

The Solana (CRYPTO: SOL)-based memecoin lifted nearly 5% over the last 24 hours, with trading volume surging 23% to $23.85 million. In doing so, it outclassed heavyweights such as Bitcoin (CRYPTO: BTC) and Dogecoin (CRYPTO: DOGE), and also the Official Trump (CRYPTO: TRUMP) memecoin, affiliated with President Donald Trump.

Speculative activity also spiked, with open interest in MELANIA’s derivatives jumping 17% over the last 24 hours, according to data from Coinglass.

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The uptick came ahead of Amazon MGM Studios‘ documentary on the First Lady, dubbed “Melania,” slated for release on Jan. 30.

Trump took to X to promote the documentary, calling it a “Must Watch.”

MELANIA, the Movie, is a MUST WATCH. Get your tickets today — Selling out, FAST!

Photo: Regine Mahauxhttps://t.co/rjwd5Appkv pic.twitter.com/vFpXfV0Mg0

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MELANIA and TRUMP memecoins were launched right before Trump’s presidential inauguration last year, sparking widespread controversy.

The MELANIA token has plunged nearly 99% from its all-time high of $13.73, set shortly after its launch. At its peak, it amassed a market capitalization of $1.73 billion, which has now collapsed to $164 million. Similarly, the TRUMP coin is down 93% from its peak.

Investment banking giant TD Cowen warned earlier this month that the Trump family’s ventures, including the two memecoins, could derail the progress of the cryptocurrency market structure bill.

Image via Shutterstock/ Evan El-Amin

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